When it comes to starting an online business, there are so many options that you may be overwhelmed. The world of the web is so complicated and so intense that with a bit of education and effort, you will be able to start a successful and profitable online business.
But what are the most profitable online businesses? How can we create them? Read on to learn more about various business options and how to make them a reality.
Table of contents
- How to Start a Profitable Online Business?
- What Are Some of the Most Profitable Online Businesses?
- Final Thoughts
How to Start a Profitable Online Business?
Starting an online business doesn’t take much. As long as your idea is viable and you have all you need at your disposal, you can make your dream come true with time and dedication.
Therefore, before you start doing any work, you must carefully examine the examples of profitable businesses that have made it and see which suits you best. And then you can take the necessary steps as mentioned in the list below:
See if It Will Work
Nothing is more satisfying than doing what you love as a full-time job. But before jumping into a business you have a passion for, there are some points you have to consider. First, how much of a niche is it? Starting an online business is a delicate matter.
You might face tough competition with more experience and customers if it is too broad. But, on the other hand, if it is too much of a niche, you might be unable to find enough customers to make your business profitable. However, with comprehensive market analysis, you can successfully walk the tight line of niche businesses.
The second thing you have to do is competition analysis. Take a look at the people with businesses similar to your idea. Take a good look at their marketing strategies, social media platforms, shipment and sales protocols, and content marketing strategies.
This can give you an idea of what to do in your efforts. What’s more, you will see what you are against and what you have to do to overcome the competition.
Create a Business Plan
Writing a business plan is like making a roadmap for the future of your business. Therefore, the information provided in this document should be as accurate as possible. Take note of the following details to include in your business plan: your business plan:
- Products and services catalog
- an analysis of your target market, your potential customers, and the opportunities
- A set of strategies in place for marketing. Are you going to use social media marketing, content marketing, or Google Ads?
- How much is your marketing budget? How much profit do you think you will make in the first year? How much initial capital do you need?
Pick a Name
The name you choose for your business defines the logo you will have, your domain name, the username of your social media platforms, and your business’s email address.
Your business’s name should reflect the business you plan to run. What’s more, it should be unique and not too complicated. It takes creativity and insight to pick a name that’s simple yet smart and memorable.
Also, the name you have selected should be available as a domain name because using punctuation marks will affect the memorability of your name negatively.
Read this detailed post if you don’t know how to come up with the best website name ideas.
Any business requires a series of legal permits and documents. Having these permits will make your brand name more trustworthy in the eye of your potential customers. Some businesses just need to be registered in the system.
While others, especially the ones that have to do something with health and food, have more hoops to jump through. After all, starting a business illegally might harm your reputation and put you in a twist with law enforcement.
Create a Website
Most online businesses need a website to look legitimate and professional. This is especially the case if you are starting a retail business.
Now there are several essential questions you have to answer regarding your website. First, will you design and run your website on your own? Or will you hire a professional team to take care of it? If you’re going to do it all by yourself, put in the time and effort to ensure that your new website is visually pleasing and technically accurate.
Nothing can put potential customers off your business like a faulty website. In case you have hired a professional web designer, consider the budget you have set aside for web design before starting your negotiations.
Second, what kind of content are you going to publish? Is there going to be a blog? Does your website include an online shop? Who is going to write the content of your website? And how often do you want to publish new information? After building a website, the real work begins. Maintaining the website and keeping it alive and up-to-date is a significant responsibility that cannot be ignored.
Third, what are you going to do about SEO? SEO or Search Engine Optimization is when your website appears on the first page of the search results when enquiring about a specific keyword.
A professional SEO team will ensure you use the right keywords, tags, links, and content optimization. Also, you should seriously consider SEO if you intend to maintain a website and rank on the first page of search results.
After a website, it’s time to launch your social media platforms and email list. Before you create accounts on social media platforms, you need something called a persona. A persona is a profile you make up for your potential customers.
The audience’s gender, age, occupation, hobbies, likes, dislikes, social class, level of education, and shopping habits are all components of a persona. Having this document will help you select the social media platforms that suit your audience the best and the type of content that attracts them the most.
This step could be the official launch of your online business. So, you can create an event by offering gifts to your first audience and customers, having a discount for a while, or holding a live event on social media to promote your work.
If you have set aside a budget for influencer marketing, this is an excellent time to invite some influencers and ask them to introduce your business to their audience as well.
What Are Some of the Most Profitable Online Businesses?
Let’s look at this simple fact; the Covid pandemic changed the world of education forever. The worst of the pandemic threat is indeed behind us now.
But the changes it imposed on the educational system are here to stay. So if you have something to teach, setting up an online training platform can be the best choice for your business. There are two types of online education: live classes and on-demand videos.
Live classes require precise planning and marketing because enough people have to sign up for your classes so you can hold a class. These classes lack the flexibility of on-demand videos. But many learners prefer to have an educator in front of them rather than watch a video.
On-demand videos can be an excellent source of passive income for your business. Why? Because you record your videos once and people can pay to buy the package and watch them whenever they want. This type of online business certainly suits the busy lifestyles of many people.
However, the downside is that protecting your intellectual property against piracy is much more challenging since anybody can share their video on social media.
Make sure to check out this article if you want to learn how to sell online courses.
Examples of the Most Successful Online Education Businesses
|Website||Course Topics||Best Features||Number of Students|
|Udemy||Anything from languages to programming, music, and management||· Anyone can create a course
· It offers a certificate upon finishing a course
· Quality control for the courses
|55 million students In 2022|
|Skillshare||· Graphic design
|· Opportunity for social learning
· A strong community for sharing your assignments
|100 million students In 2022|
|LinkedIn Learning||· Creative
|· Direct connection to LinkedIn
· High-quality courses
|27 million users|
|BitDegree||· Software development
· Game design
|· Earn BitDegree cryptocurrency tokens upon completing each course
· Gamified environment
|2.3 million users In 2022|
|Coursera||· Business and science||· High-quality courses
· Accredited certificates
|3.8 million users In 2022|
|· Courses from Ivy League universities
· Accredited certifications
· Partially free
· Financial aid
|40 million users In 2022|
Selling Digital Products
Selling digital products includes mobile apps, music, digital painting, e-books, graphic designs, and NFTs. Selling them can be done through a website, Shopify, or an application. Fortunately, the laws always protect digital products against piracy.
That being said, if you are an artist, you can easily create your art and sell it online. By putting your products on these worldwide services, you can find a customer base that will follow you and seek your art after some time. You can also use your personal website and social media platforms to expand your online business and invite people to buy your work.
If you have decided to sell digital products online but don’t know how, make sure to take a look at our article.
Platforms to Sell Digital Products
|Digital Product||Platform to Sell||Features|
|· Allow you to keep all the money to yourself
· Puts your music on all the major streaming platforms
|Digital art||· Creative Market
· Envato Elements
· Design Cuts
· Adobe Stock
|· Available for all types of digital art, including paintings, graphic designs, stock photos, and templates
· Creates an online portfolio
· Provides you with a passive source of income
|Mobile Apps||· Amazon App store
· Samsung Galaxy Apps
· Google Play Store
· Apple App Store
· Microsoft Windows
|· Allow you to track searches, audience, and downloads
· Provides safe payment
· Protects against viruses and malware
· Gives you a worldwide audience
· Amazon Kindle Direct Publishing (KDP)
· Barnes & Noble Press
|· Gives you up to 80% royalties
· Allows you to publish your work independently
· You can advertise your e-books
· Axie Marketplace
· Larva Labs
|· Uses various cryptocurrencies
· Has large communities you can be a part of
· Some might take credit and debit cards
One of the most prosperous businesses in the world is blogging. There are many types of blogs, and you can choose according to your interests and area of expertise. For instance, you can make a beauty, health, or lifestyle blog.
You could talk about your computer, coding, or technical skills. Or, you could cook, make clothes, garden, build, or do whatever else you are good at. Monetizing your blog has several methods, one of the most important of which is increasing your audience and earning money through AdSense.
There are also other options, including using sponsorships and collaborations with brands. Let’s take a look at the most lucrative blogs in 2022.
If you’re new to this field, make sure to read the difference between a blog and a website.
Examples of Successful Bloggers
|Blog Type||Topics||Example||Net Worth|
|Finance||· Tax management
|Pat Flynn with the blog Smart Passive Income or SPI||$3 million in 2022|
|Travel Blogs||· Backpacking
· Luxury trips
· Being a digital nomad
|Caz and Craig Makepeace with the blog YTravel||$2 million in 2017|
|Lifestyle||· Dating and relationships
· Career development
· Interior design
· Food culture
|Kate Arends with the blog Wit & Delight||$54 million in 2022|
· Weight loss
· Professional training
|Mark Sisson with Mark’s Daily Apple||$20 million in 2022|
· Makeup tips
· Cosmetics review
· Beauty DIY
|Ruth Crilly with the blog A Model Recommends||$1.5 million in 2022|
|Fashion||· What to wear
· Brands review
· Fashion advice
· Sustainable clothing
· Luxury fashion
· Fashion trends
|Blair Eadie with the blog Atlantic-Pacific||$300,000 to 400,000 in 2022|
|Parenting||· Child psychology
· Single parenting
· Teen psychology
|Aly B. with the blog What Moms Love||Unspecified|
The days when becoming a member of a business or organization was required for professional and financial security are long gone. These days, many people believe that freelancing leaves them free to have a flexible life.
Writers, developers, programmers, SEO specialists, consultants, and many other professionals prefer to work freelance. These people either use their personal connections to find projects to do or use freelancing platforms that connect workers to employers. Some of these platforms include:
- Upwork for developers, writers, designers, and digital marketers
- Designhill for graphics designers and web designers
- Toptal for designers, software developers, finance experts, and product managers
- LinkedIn for almost everybody in all professions
- We Work Remotely or WWR for programming, design, sales, marketing, and customer support
- Behance for illustration and web designers
- SimplyHired for writers
Examples of Most Successful Freelancers in 2022
|Name||Area of Expertise||Country of Origin||Income|
|Marcos Rezende||· UX Designer||Canada||$200 to $300/ hour|
|Kathy Edens||· Marketing Consultant
|The United States||$90/hour|
|Koen van Oeveren||· UX Designers
· App Developer
|Pascal Strasche||· UX Designer
· Product Designer
|Paul Hunkin||· Web Developer
· Software Consultant
|Jana Galat||· Brand Strategist
|Padcha Uaarisakkul||· Creative Consultant
· Brand Strategist
|The United States||$120/hour|
|Xhensila Zemblaku||· Art Director
· UX/UI Designer
|Tanya Litvinova||· UX/UI Designer||The United States||$162.50/hour|
Unique domain names are tough to come by. One of the very first things to think about when launching an online business is the company’s name. That includes the domain name for your future website as well. In total, 341.7 million domain names were registered on the web in 2021. Therefore, it’s safe to assume that all the good and simple domain names are already taken.
This is where domain investors come in. you can predict the domain names that will be in demand and buy them in advance. Then sell it to the person who has decided on that name for their website. When you do this over a long time, you will start to build a domain portfolio. Registering a domain name on a website such as GoDaddy.com doesn’t take much time and money. However, auctioning a domain name already registered can earn you up to thousands of dollars. Several online platforms facilitate the process of domain name auctioning:
Are you a specialist in design, Search Engine Optimization, business, digital marketing, web design, or creative design? Then, the best option for you to start your profitable online business is to tell others how to do their job.
There are so many new businesses out there that need help to manage their affairs and reach profitability, and as a consultant, you can earn big bucks by giving them advice. Let’s look at some of the areas you can consult businesses in:
SEO or Search Engine Optimization involves a series of steps that you or your content creation team need to take to come up on the first pages of search results on various search engines. As an SEO consultant, your job is first to analyze the website thoroughly and see which areas need to be improved.
The next step is to develop an SEO strategy that fits your client’s business perfectly. This strategy is a mix of on-page, off-page, and technical SEO protocols that businesses must follow faithfully.
Another set of information that you, as an SEO specialist, will give your client is a set of keywords that fit their business and attract potential customers the best. These keywords will be expanded into secondary keywords and make up the content for the business’s website.
Finally, an SEO consultant also devises a set of marketing strategies for the business to follow. This might include using Google Ads, influencer marketing, content marketing, link building, getting quotes from other websites, and many more.
Your client is stuck in the first step and can’t decide which kind of business to invest in? as an online business consultant, you can suggest the type of business that fits their profile. Then, in the following steps, you will teach them management strategies, budgeting, crisis management, human resources management, and IT management. These are all the skills a business owner much have, even if they have hired professionals to perform these tasks.
Another vital task that every successful business consultant does is to analyze the business and see where things are going wrong and where things can be improved. With your help, companies can form better relationships with their employees and clients, manage their financial resources more reasonably, and reach their financial and business goals more quickly.
A creative consultant’s main job is to solve the business’s problems creatively. Many businesses need your experience and all the issues you have had to overcome in your own businesses to guide them through their challenges. A creative consultant’s job is to communicate with clients about their projects and progress. You will also have to make changes to some of the products to make them more attractive and practical.
Your role will be expanding the business, designing new services and products, designing advertising campaigns, and improving sales. And finally, your job will be to train team members to solve their problems creatively.
Social Media Consultant
Small businesses rely heavily on social media to gain the attention of their audiences and attract potential customers. A social media consultant’s role is to have an insight into the audience persona of your client’s business. Having this persona in mind will allow you to plan your social media marketing strategies more successfully. The persona will also determine the type of content you should create for your social media platforms.
When you are a social media consultant for a business, you will know which influencers to use in their advertising campaigns, which hashtags to use, and which trends to follow. Your deep understanding of social media and its requirements will help businesses increase their followers and turn them into potential customers.
Building a Membership Website
A membership website offers members specific privileges when they pay a subscription fee. These privileges include free e-books, discount codes, community memberships, free services, and extra information. In addition, some websites have a VIP section that offers more significant discounts and free shipping to those who bought the VIP membership. In comparison, other websites are established explicitly for paying members. Let’s see a few examples:
- Book Riot: This is, of course, for book lovers. This website has a section called TBR or Tailored Book Recommendations. This program involved a series of questions about your reading habits and favorite books. Then the program recommends three books for you to read next. The subscription fee for the TBR program is $52/year for recommendations only and $325/year to receive a hardcover version of the books in your mail.
- The Script Lab: The Script Lab is a platform designed explicitly for screenwriters or people who want to become screenwriters. This website is comprised of several sections: the sample screenplays that have become movies, the competition section in which you can enter your script by paying the participation price, and the feedback section.
You can get three different kinds of feedback on your script. If you have an idea, you can get a 3-day subscription for $39 with an editor to analyze your work and give you feedback. If you want a more comprehensive analysis of your work and feedback about its salability and ratings compared to other scripts, you might have to pay up to $119 for three days.
You can also receive other help by paying $249. These services include collaboration opportunities, change tracking, watermarks, colored pages, other production tools, and PC and Mac applications. And finally, for $12 a month, you can access a video library in which professional screenwriters teach you how to do it right.
40 Aprons: This is a website for ideas about cooking, recipes, diets, and much more. Most of the recipes on 40 Aprons are offered for free, but paying for the annual subscription will give you a series of cool perks. For instance, the subscribed version is completely ad-free.
What’s more, the VIP recipes include tips and tricks that make a huge difference in your cooking skills and monthly meal plans & grocery lists that help you decide what to cook for lunch and dinner every day. The website also has several cookbooks that you can buy as an e-book.
The reason for purchasing these e-books is that you will have recipes for a particular taste in one place. The subscription fee for 40 Aprons is $40 a year or $3.99 a month.
- The Measured Mom: This is a website for people who want to help their children become more successful at school or just homeschool their children on their own. The Measured Mom is packed full of worksheets, board games, educational exercises, and other recourses for elementary school-age children. The subscription fee for this website is $149/year or $14.97/month, which gives you printable packages for different age groups, video workshops for moms and educators, and no-print resources.
Offering Online Services
Are you thinking about creating an online business with a group of your friends? It all depends on the skill set you have. First, your online service website needs to be promoted to reach the audience and potential customers more efficiently. But after all that, the nature of your services and the quality of your work matter the most.
Proofreading is the process of reading and editing a written text. The truth is that artificial intelligence has not developed enough to be able to proofread your document perfectly. So, as a human proofreader, you can be sure your job is still in demand. Look at some of the most prominent online proofreading businesses.
- PaperTrue: This is one of the online proofreading platforms that has received positive reviews from clients worldwide. This service charges $36 for a text of 1000 words.
- Scribendi: Scribendi is one of the oldest online proofreading services out there. Customers will have to pay $38.61 for a 1000-word document, but it’s certainly worth it because of the quality you experience.
- Get Proofed: This website has a more innovative payment system that has distinguished it from the competition. On Get Proofed, the longer your document is, the lower the charge for each word. Moreover, Get Proofed will help you add references to your academic documents and articles.
- Proofers: Services include editing CVs and business documents as well. This business is based in the UK and can check your work for plagiarism. Proofer’s services start at £6.99 for 1000 words.
Transcription services are needed for podcast notes, video subtitles, and academic lectures. Offering these services does not need much expertise. You can also expand your business to languages other than English. All in all, accuracy and price are two of the most critical points to be considered when picking a transcription service. Therefore, make sure that you include all these qualities in your service. Here are some of the most prominent transcription websites:
- Rev: If you’re looking for the best transcription services out there, it’s Rev. This service has a low accuracy rate and high speed. The price for transcription services in Rev is $1.25 per minute.
- Scribie: This is one of the most highly accurate transcribing services. The best point about Scribie is that you can follow the progress of your project at any given time. Also, Scribie gives you a quality guarantee for your work, so you can ask for a revision if you are not satisfied. The manual transcription price on this website is $0.80 per minute, but it’s a little more expensive for AI-generated transcription.
- GoTranscript: GoTranscript has two significant advantages over other services. First, it offers services in 48 languages, making it easier for international customers. And second, GoTranscript can work on projects that are hard to hear and have a lot of background noise. The price for GoTranscript’s services starts at $0.90 per minute, but it might get higher if the audio has too much background noise.
Content creation and ghostwriting are two professions that you can easily do online. These jobs need a little bit of writing flare and some experience. Many businesses and websites decide to hire a professional content writer to take care of their blogs and eCommerce websites.
On the other hand, celebrities and well-known people would like to hire a ghostwriter to turn their lives and experiences into a book. You can start a ghostwriting business alone or collaborate with a group of writers. Whatever you do, ghostwriting could be considered a profitable online business. Let’s see some examples:
- Write Right: This website is one of the major ghostwriting companies that has managed to earn over 1500 reviews over the years. The values Write Right strives for include quality, speed, and necessity.
- Orange Publishers: This platform is another business that offers various services, including book and e-book publishing, design, writing, and publishing. Orange Publishers has had about 30 years of experience in this business and guarantees the quality of the writing services they offer.
- Vox Ghostwriting: They write almost everything the customers might need. From fiction to non-fiction, stories, songs, biographies, articles, and any other kind of document Vox Ghostwriting is at your service. The Vox team includes more than 2500 writers and editors who work on-premise and remotely.
- Scripted: This website is another online service that is comprised of a team of freelance writers, copywriters, and content strategists. Scripted works with enterprises, websites, individuals, and marketing agencies.
Graphic design online services include logo design, posters, pamphlets, social media posts, motion graphics, infographics, and anything else people might need for their businesses. Starting an online graphic design business will need specialized education in design, experience with design software, and artistic taste.
That being said, you can start your work with a team of designers, each of which specializes in one type of design to make your projects more manageable. Obviously, you need a complete portfolio and a beautifully designed website to attract clients. Let’s see some examples of the most successful graphics design online businesses.
- Superside: They have provided their services to high-end businesses such as Meta, CoinBase, Amazon, Puma, and 450 more. Superside services include ads, emails, landing pages, presentations, prints, motions, and illustration designs.
- 99designs: This is a platform that gathers a host of freelance designers from all over the world. 99designs primary function is to match professionals to the project and guarantee the quality of the delivered design.
- Crowdspring: Crowdspring has been trusted by over 60,000 businesses and companies globally. This company mainly focuses on branding, and its services include logos, business cards, social media content, product design, and package design.
- Designhill: They have designed more than 5 million projects successfully. The unique feature that makes Designhill rise above the competition is that it uses an interactive platform that allows the client to give feedback as the designers do the project. Designhill also includes a print shop that can put your designs on t-shirts, book covers, business cards, or any other kind of object and send them to you for free.
Starting a vlog is one of the most lucrative online enterprises. Most vlogs start with a YouTube channel and then move on to other platforms such as TikTok, Instagram, and Facebook.
Vlogs come in many forms and shapes, and you can have a successful one as long as you have something to say and are willing to spend hours in front of a camera.
The money you can earn through your vlog comes from YouTube’s monetization features, sponsorships, collaborations, and advertising.
If you’re torn between blogs and vlogs and which generates the most money, read this post.
Examples of Most Successful Vloggers in 2022
|Type of vlog||Topics||Best Example||Revenue|
|Review||· Album reviews
· Product reviews
· Movie reviews
· Show reviews
· Game reviews
|Ryan Kaji, a 9-year-old YouTuber with 40.7 million subscribers. He vlogs about games, toy reviews, science experiments, and challenges.||$29.5 million in 2022|
|Fitness||· Workout routines
· Yoga and meditation
· Workout equipment
|Ardiene with the YouTube Channel Yoga with Adriene. She has 11.4 million subscribers.||$3.77 million in 2022|
|Zoe Sugg and Alfie Deyes with the YouTube channel Zalfie. They have 10.8 million subscribers||$12 million in 2022|
|Unboxing||· Showcasing new products
· Unboxing toys and gadgets
|Anastasia Radzinskaya with the YouTube channel Like Nastya. She is 8 years old and has 102 million subscribers who watch her unbox toys.||$20 million in 2022|
|Beauty and fashion||· Skin routines
· Makeup tips
· Beauty products
· Makeup trends
· Hair care
|Jeffree Star with a YouTube channel of the same name. he has 15.9 million subscribers.||$200 Million in 2022|
|Financial||· Personal Finance
|Graham Stephan with 4.11 million subscribers.||$7.5 million in 2022|
· Grocery shopping
· Housekeeping tips
|Rosanna Pansino has 14 million subscribers on YouTube and 4.5 million followers on Instagram.||$18 million in 2022|
|Gaming||· Game streams
· Game reviews
· Game recommendations
|Markiplier has 33.9 million subscribers on YouTube and 10.8 million followers on Instagram.||$35 million in 2022|
|Mr.Beast has 110 million subscribers on YouTube and 20.7 million followers on Instagram. He gives things away on his channel.||$60 million in 2022|
Starting an online business in this day and age makes total sense. Whatever skills or specialties you have, whatever passions make you feel alive, could also be your full-time job.
What’s more, you can run your business at home or in a coworking space before you have reached enough profitability to get your own premises. Another great advantage of starting an online business is that you can work with the greatest minds in your field remotely without being restricted to geography and time zones.
In fact, most profitable online businesses have started their journey at their kitchen counter, and there is no reason that you cannot do it too.